ChiniMandi, Mumbai: 5th May 2023
Domestic Market
Prices are up in the North, steady in Maharashtra
Domestic sugar prices traded higher in the Muzaffarnagar and Delhi markets, while steady sentiment was reported in Maharashtra and Kolkata. Good demand is supporting the prices in the spot market despite the higher monthly quota. Kolhapur’s market reported steady after an uptick in the last two days.
According to Agrimandi.live, prices are expected to trade higher with a limited downside due to lower supply in the coming days. More rise is expected in the Kolhapur market than in Muzaffarnagar, and the spread between these markets is likely to narrow in the coming days.
Ex-mill Sugar Prices as on May, 5 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3410 to 3420 |
₹3510 to 3520 |
|
Karnataka |
₹3520 to 3575 |
₹3600 to 3625 |
|
Uttar Pradesh |
|
₹3590 to 3655 |
|
Gujarat |
₹3435 to 3471 |
₹3515 to 3541 |
|
Tamil Nadu |
₹3550 to 3620 |
₹3625 to 3650 |
|
Madhya Pradesh |
₹3575 to 3620 |
₹3645 to 3690 |
|
Punjab |
₹3690 to 3721 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on May, 5 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3,869.25 |
|
Kanpur |
M/30 |
₹3,816.75 |
|
Kolhapur |
M/30 |
₹3,685.50 |
|
Kolkata |
M/30 |
₹3,990.00 |
|
Muzaffarnagar |
M/30 |
₹3,795.75 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $703.30/ton, whereas the New York Sugar #11 front month contract is trading at 25.81 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 81.712 whereas USD was trading with BRL at 4.9844, Crude futures traded at ₹5772, Crude WTI traded at $70.33/barrel. Sensex closed 694.96 points lower at 61054.29 whereas Nifty ended 186.80 points lower at 18069.00
News Round-Up
Shahabad sugar mill clears cane dues worth Rs 210 crore so far: Minister
Shahabad sugar mill clears cane dues worth Rs 210 crore so far: Minister
Sugar mills in Haryana perform better this season
Sugar mills in Maharashtra focus on ethanol production
Cyclonic circulation likely to develop over Southeast Bay of Bengal around May 6, says MeT department
Sensex ends 694 points lower, Nifty below 18,100
